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NSW nomination updates visa policy: Permanent Business Innovation visa 888A

  • Home / NSW nomination updates visa policy: Permanent Business Innovation visa 888A
  • 02
  • Jun

NSW nomination updates visa policy: Permanent Business Innovation visa 888A

Permanent Business Innovation visa 888A

Nominees holding a provisional visa subclass 188—Business Innovation stream will soon be able to apply for NSW nomination for a permanent visa subclass 888—Business Innovation stream.

What you need to do
NSW encourage applicants to be familiar with the NSW nomination criteria for the permanent visa well before planning application.
This will give applicants plenty of time to understand what is expected of applications and meet the eligibility criteria.
If you are planning to apply for NSW nomination for the permanent visa subclass 888A—Business Innovation stream, you must demonstrate that you have invested at least A$500,000 (A$300,000 for businesses in regional NSW) in the property, plant and equipment, inventory and/or purchased good will of the business for at least the 12 months before your application.
Extension and permanent Significant Investor visa

 

NSW nominees holding a provisional visa subclass 188—Significant Investor stream will soon be able to apply for NSW nomination for an extension or permanent visa subclass 888—Significant Investor stream.

What you need to do

If you are applying for NSW nomination for a permanent or extension Significant Investor visa (SIV), you must demonstrate you maintained your complying investment, as defined by the Commonwealth Department of Home Affairs’ definition, for the duration of your provisional SIV. The evidence you submit is dependent on when you were nominated for your visa and the nature of your investment.
Following are the types of evidence you may need to submit in your application: 

NSW Waratah Bonds

  • Certificate of Inscription issued by NSW Treasury Corporation (NSW T-Corp), statement from the fund manager, or other relevant document
  • The most recent periodic payment statement from NSW T-Corp, bank statement, financial document or other relevant statement to demonstrate that the investment has been held.
  • You do not need to obtain a holding statement from NSW T-Corp.

Managed funds

  • Form 1413 (if you applied for your SIV before 1 July 2015) signed by the fund manager/s
  • Form 1413D (if you applied for your SIV after 1 July 2015) signed by the fund manager/s

Australian proprietary company

  • Submit a shareholder certificate, company extract from ASIC and relevant financial documents.

For more information regarding Permanent Business Innovation visa 888A and Extension and permanent Significant Investor visa, you may contact our migration team at mizanur@australasiaeduconnect.com.au or visit us at www.australasiaeduconnect.com.au.

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